Marked Decline in Steel Output Due to Power Outage

A new report by the Iranian Steel Producers Association shows a significant decline in domestic steelmakers’ production.
Iranian steelmakers produced a total of 10.83 million tons of semi-finished products during the first five months of the current fiscal year (March 21-Aug. 22), down 12% year-on-year.
According to ISPA, billet and bloom made up 6.49 million tons of total semi-finished production, down 15% YOY and 54% month-on-month.
Slab output reached 4.33 million tons to register a 9% and 42% decline YOY and MOM respectively.
The output of finished steel decreased by 11% YOY to 7.57 million tons.